Qianhai pitches dual-headquarter model as Singapore firms seek GBA entry

Hong Kong offers fundraising and talent while Qianhai adds mainland scale technology and manufacturing links.

Qianhai is positioning itself as a dual-headquarters gateway for Singapore companies seeking access to Hong Kong, mainland China and the wider Greater Bay Area.

In an interview during the GBA Summit Interviews, Alpha Lau, Director-General of Invest Hong Kong, said the Shenzhen zone is promoting a model where international companies can use Hong Kong as their Greater Bay Area international headquarters and Qianhai as their mainland China headquarters.

The structure is intended to help companies move capital, data, goods and people between the two locations whilst using the strengths of both markets.

Hong Kong offers international fundraising channels, common law, global capital markets and access to international talent. Qianhai, meanwhile, offers manufacturing capability, technology expertise and scale-up opportunities for small and medium-sized technology businesses.

Lau said Qianhai serves three roles: policy experimentation, Shenzhen-Hong Kong cooperation and growth of modern service industries. For Singapore companies, the zone is being positioned as a route into the Greater Bay Area, which has a population of 88 million.

Qianhai is also working with Hong Kong to attract international businesses and support mainland Chinese companies expanding overseas. Lau said many mainland firms see ASEAN as their first destination, with Singapore a prime market.

Singapore law firms have also found opportunities in Qianhai, as mainland companies seek Singapore legal services for overseas expansion.

Qianhai’s longer-term role is to bridge Hong Kong, support mainland China and connect global markets. It is also expected to support Hong Kong’s Northern Metropolis by giving companies based there another route into the wider Greater Bay Area.

The zone spans Nanshan and Bao’an districts in Shenzhen. Nanshan is positioned as a technology hub, with Tencent’s global headquarters located there, whilst Bao’an offers manufacturing capabilities for products such as robots and drones.

Lau said Qianhai had recently welcomed 60 business leaders from Singapore and hopes to attract more companies seeking Greater Bay Area opportunities.